The invention discloses a novel glass fiber impregnating compound. The novel glass fiber impregnating compound is prepared from, by weight, 20-30 parts of vinyl water-borne epoxy resin, 20-30 parts of 3,4-epoxy group-6-methyl cydohexane formic acid-3,4-epoxy group-6-methyl cyclohexane methyl ester epoxy resin, 10-20 parts of hydroxypropylation modified pea starch, 3-5 parts of coupling agent, 0.5-2 parts of lubricating agent, 0.5-1 part of collecting agent, 0.5-1 part of surfactant, 0.5-2 parts of polyvinylpyrrolidone, 0-0.5 part of antistatic agent, 0.5-1 part of defoamer and 300-500 parts of water. By adding polyvinylpyrrolidone to the formula, adhesive force of the impregnating compound can be improved, viscosity of the impregnating compound can be improved, fiber breakage can be prevented, plasticity and stiffness can be improved, and broken filament generation can be reduced. Three film-forming agents are adopted; yarn impregnation speed is high, heat resistance is high, binding power is high, film-forming property is high, and protective property is high; protection and collection of glass fiber during high-speed jetting and rolling can be achieved easily, production efficiency is improved, and mechanical property of glass fiber is improved.